Acct 3222 3 Study guides, Class notes & Summaries

ACCT 3222-3, Wiley, LSU, Exam 1| 270 QUESTIONS| WITH COMPLETE SOLUTIONS

ACCT 3222-3,WILLEY, EXAM 1 QUESTIONS WITH WELL ANSWERED ANSWERS ALREADY GRADED A+

ACCT 3222 (Audit) - Exam 1 with complete solutions. Capital market ️ allows a public company to sell small pieces of ownership or to borrow money in the form of thousands of small loans so that vast amounts of capital can be raised from a wide variety of investors and creditors public ️ firm that sells its stock or bonds to the public, giving the public a valid interest in the proper use of the company's resources principal ️ shareholders, not directly involved in running the comp...

ACCT 3222 Exam 1 Questions with Approved Answers. What is the role of auditing? ️ To determine whether the reports prepared by the manager conform to the contract's provisions (reduces information risk) What is the main task of the auditor? ️ To collect sufficient appropriate evidence that management's assertions regarding the financial statements are correct 3 aspects of information reflected in financial statements: ️ transactions, account balances, and presentation & disclosu...

ACCT 3222-3, Wiley, LSU, Exam 1 Questions with 100% Correct Answers 2024 Audit Services - answerservices by an independent CPA that provide financial statement users with (1) an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework and (2) an opinion on the effectiveness of ICFR, which enhance the degree of confidence that intended users can place in the financial statements Attestation Se...

ACCT 3222-3, Wiley, LSU, Exam 1 Questions with 100% Correct Answers 2024 Audit Services - answerservices by an independent CPA that provide financial statement users with (1) an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework and (2) an opinion on the effectiveness of ICFR, which enhance the degree of confidence that intended users can place in the financial statements Attestation Se...

LSU ACCT 3222 Chpt 12 & 13 - Final Exam with complete solutions. What assertion is most important in auditing payables and liabilities? ️ completeness What assertion is tested when performing initial procedures for A/P balances? ️ valuation 4 initial procedures for A/P ️ 1. agree BB to PY 2. obtain A/P TB 3. scan for unusual transactions 4. agree sub ledger to GL In auditing which accounts are substantive procedures optional? ️ payables/ liabilities CASH (not meaningful bc of...

LSU ACCT 3222 Laura Wiley - Chapter 1 Exam 1 Questions With 100% Correct Answers 2024. any independent service that improves the quality of information (financial or non-financial) Assurance Services What two other services fall under the umbrella of Assurance services? 1. Attestation Services 2. Audit Services Name the 4 other services of Assurance services: 1. Risk advisory services 2. Compliance with EPA standards 3. Website security 4. Data integrity independent CPA (or practiti...

ACCT 3222-3, Wiley, LSU, Exam 1 Questions with 100% Correct Answers 2024 Audit Services - answerservices by an independent CPA that provide financial statement users with (1) an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework and (2) an opinion on the effectiveness of ICFR, which enhance the degree of confidence that intended users can place in the financial statements Attestation Se...

ACCT 3222-3, Wiley, LSU, Exam 1 Questions with 100% Correct Answers 2024 Audit Services - answerservices by an independent CPA that provide financial statement users with (1) an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework and (2) an opinion on the effectiveness of ICFR, which enhance the degree of confidence that intended users can place in the financial statements Attestation Se...